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| Bonds Online |
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| 5/10/2013Market Performance |
| Municipal Bonds |
|---|
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S&P National Bond Index
|
3.00% |
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S&P California Bond Index
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2.96% |
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S&P New York Bond Index
|
3.13% |
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S&P National 0-5 Year Municipal Bond Index
|
0.70% |
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| S&P/BGCantor US Treasury Bond |
400.09 |
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| More |
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| Income Equities: |
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| Preferred Stocks |
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S&P U.S. Preferred Stock Index
|
848.03 |
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S&P U.S. Preferred Stock Index (CAD)
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636.26 |
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S&P U.S. Preferred Stock Index (TR)
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1,701.05 |
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S&P U.S. Preferred Stock Index (TR) (CAD)
|
1,276.26 |
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| REITs |
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S&P REIT Index
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174.07 |
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S&P REIT Index (TR)
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425.30 |
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| MLPs |
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S&P MLP Index
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2,469.58 |
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S&P MLP Index (TR)
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5,428.50 |
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See Data
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Euro zone crisis could hurt U.S. states |
REUTERS - Dec. 21, 2011 - By David Gaffen
(Reuters) - Should the euro zone debt crisis drag the continent into a recession, states and regions in the United States would not be immune to the fallout across the Atlantic, a report said on Wednesday.
Europe is a significant trading partner with the United States, particularly states such as New York, California and Texas, the three most populous - and among the largest issuers of municipal debt - in the country.
According to a white paper from eBooleant Consulting, those states contributed a large percentage of the $1.3 trillion in exports to Europe in 2010.
"What's going on in Europe is not going to stay in Europe - it looks progressively worse," said Philip Fischer, managing principal at eBooleant Consulting, an economics consultancy in New York.
Although the largest percentage of the New York metropolitan area's exports is to Asia rather than the European Union, slowed growth in the EU would have an impact on both the city and New York State, Fischer said. The effect would be "material but manageable."
The biggest state exporter to Europe is California, and the largest cities that export to Europe are New York, Houston and Los Angeles. Fischer, formerly the head of Municipal Bond Research, said some credit spread widening in municipal names could be seen as a result.
"The weaker credits in muni markets in those zones are going to see some effect," he said.
The euro zone's economy has struggled as several nations, including Italy and Greece, deal with rising borrowing costs and as the region attempts to confront heavy debt loads through severe austerity packages. Italy, the third-largest euro zone economy, shrank in the third quarter, setting it on course for what is expected to be a prolonged recession.
MORE ISSUANCE EXPECTED IN 2011
Long-term U.S. taxable and tax-exempt municipal bond issuance is forecast to total $347.0 billion in 2012, up from an estimated $288.0 billion this year, according to a survey released on Wednesday.
For the complete article.
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